Re ends at 44.38/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.35/37 to a dollar.

Sentiment: Bullish

FII inflows saw the rupee touch an intra-day high of 44.32 to a dollar after opening and closing for the day at 44.36/38 to a dollar.

Premiums on six-month and one-year forward dollars closed at 2.40 per cent and 1.88 per cent, respectively.

Money market

Sentiment: Bearish

Prices of government securities were flat amid lacklustre trades.

Apprehension of auction before the fiscal end and additional supply of Rs 22,000 crore through conversion of special securities bogged down the market.

The yield on 8.07 per cent 2017 gilt closed at 7.4050 per cent.

Call rates ended lower at 6.40 per cent.

Corporate debt market remained lacklustre.